The iGaming service provider GIG (Gaming Innovation Group) has expanded its sports betting offering by introducing virtual sports games in partnership with 1X2 Network. Shortly before, the online gaming provider EveryMatrix had expanded its range of virtual sports games to help the currently stricken bookmakers. Is the saving of the industry in virtual sports games?
Sports competitions on demand
It is a multi-year partnership. The Malta-licensed gaming company GIG will in future offer its customers access to a range of betting options based on virtual sports games from 1X2 Network . 1X2 Network has specialized in virtual sports and has been making its content available to the market for more than 20 years. These include horse and greyhound races, football, tennis and cycling.
Players around the world are currently facing limited sports betting options, with almost all events canceled or postponed due to the ongoing corona crisis . The betting industry also suffers from this, there are total failures worldwide, the actually booming industry comes to a standstill. Major bookmakers like Flutter and GVC have announced multi-million dollar loss warnings.
For GIG, the virtual sports world could therefore prove to be a real gold mine on several levels. First, the offer can offset impending losses. Second, helping partner companies expand their betting options. And third, serve the high demand of the players during the global shutdown , which generates a new source of income. With a view to the wide range, GIG spokesman Chris Armes said:
“The partnership with 1X2 Network enables us to offer a high quality virtual sports portfolio with realistic 3D games for some of the most popular sports betting games on demand. This enables operators to expand their offerings and to be at the top of sports betting. ”
The expansion will take place shortly after the Betsson Group announced that it had obtained antitrust approval for the proposed acquisition of GIG’s B2C assets . This should now be completed by mid-April. In February GIG agreed to sell its B2C assets, including brands such as Guts, Kaboo, Thrills and Rizk , to Betsson for around EUR 33.0 million.
Virtual sports against Corona?
Virtual sports are becoming increasingly popular as digitalization progresses. Similar to fantasy and e-sports , more and more betting sites are approaching the VS industry or have already invested . But the virtual sports world has never appeared as alternative as in the era of the corona virus. In Germany alone, around 90 percent of all sports betting has collapsed since the pandemic broke out .
The sector could now find more access. One reason for this is that one of the largest providers of virtual sports products, EveryMatrix, has expanded its range to help the struggling betting industry . The provider told iGamingBusiness to “fill the gap” by gradually introducing more virtual sports. Ebbe Groes, CEO of EveryMatrix Group, said:
“We continuously support our customers in overcoming the obstacles that Covid-19 creates across the sports industry. I am happy that our teams are fully operational. We will redouble our efforts to provide additional entertainment options. This content will be essential in the coming months. ”
Huge sports library
EveryMatrix already offers its products from providers such as Global Bet, Betradar or Kiron via the CasinoEngine platform. All new games will also be available on the “high-performance” platform. This provides access to a “huge library” of virtual sports . “Despite the dark present, I am sure that everyone will quickly adapt to this new reality and make the best of this situation,” said Groes.
As the managing director further explained, Virtual Sports offers an “effective approach between entertainment and betting”. In this sense, CasinoEngine has a massive non-stop betting offering with unlimited possibilities and without external interruptions. It is therefore hardly surprising that more and more gaming companies have been investing in virtual sports for a long time .
Virtual online gambling?
According to a study by the market research company Persistent Marktet Research, the future of the iGaming industry is virtual. After that, more and more online gaming providers and providers are expanding into so-called virtual reality . The pioneers are the USA and Asia. Young adults are particularly interested, for example passionate gamers, fantasy and e-sports players. The sales figures for VR equipment have been rising steadily for years.
The industry’s total sales in 2016 were approximately $ 6.1 billion. It is estimated that sales could more than triple by the end of 2020 , marking an increase to over $ 18 billion. According to the study , it is only a matter of time before the online gaming industry has fully established itself in virtual reality. It was said:
“The graphics in VR gambling are realistic, especially with regard to online slots. The VR gaming market attracts a lot of players thanks to the graphics and the experience factor, which leads to rapid growth. ”
Despite all the realism, it is rather unlikely that virtual realities can permanently replace top global sport . The developments on the VR market remain to be seen, as will the further effects of the Covid 19 pandemic. The question arises whether the increase in VR activities will continue after professional sports have resumed operations.